The Clap
The FRA received a request from Emirates Advanced Investments regarding amending its offer to acquire Alexandria New Medical Services (AMES), to become EGP 48.62 per share.
Background
Emirates Advanced Investments submitted an official offer to acquire AMES, for EGP 47.98 per share.
The Deets
The new price is higher than Tawasul Holding’s competing offer by a value of EGP 1.02 per share for 100% of AMES.
It is worth noting that Tawasul Holding had announced the amendment of its offer price for technical reasons to be EGP 47.6 per share instead of EGP 52.
Why this Matters
The BOD of AMES postponed the decision on the Saudi company’s offer.
The competition for Alexandria New Medical Services continues 🩺
